Covidien To Pay $2.6B For Vascular Device Maker

Law360, New York (June 1, 2010, 10:57 AM EDT) -- Ireland's Covidien PLC has said it would pay $2.6 billion in cash to buy ev3 Inc., the latest move in the former Tyco International Ltd. affiliate's play for a bigger share of the high-growth vascular market.

The deal values outstanding ev3 shares at $22.50 and is expected to close by July 31, the companies said in announcing the merger Tuesday.

“The acquisition of ev3 will enable Covidien to significantly expand its presence in the vascular market and is in line with our strategy of becoming a...
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